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Business Segments
 12 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Business segments Business Segments
The Company’s reportable operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance. The key factors used to identify these reportable operating segments are the organization and alignment of the Company’s internal operations, the nature of the products and services, and customer type.
The Company has two reportable operating segments, Integrated Solutions and Services and Applied Product Technologies. The business segments are described as follows:
Integrated Solutions and Services is a group entirely focused on engaging directly with end users through direct sales with a market vertical focus. Integrated Solutions and Services provides tailored services and solutions in collaboration with the customers backed by life‑cycle services including on‑demand water, outsourced water, recycle / reuse, and emergency response service alternatives to improve operational reliability, performance, and environmental compliance. Key offerings within this segment also include equipment systems for industrial needs (influent water, boiler feed water, ultrahigh purity, process water, wastewater treatment and recycle / reuse), full-scale outsourcing of operations and maintenance, and municipal services, including odor and corrosion control services.
Applied Product Technologies is focused on developing product platforms to be sold primarily through third party channels. This segment primarily engages in indirect sales through independent sales representatives, distributors, and aftermarket channels. Applied Product Technologies provides a range of highly differentiated and scalable products and technologies specified by global water treatment designers, OEMs, engineering firms, and integrators. Key offerings within this segment include filtration and separation, disinfection, wastewater solutions, anode and electrochlorination technology, and aquatics technologies and solutions for the global recreational and commercial pool market.
Corporate activities include general corporate expenses, elimination of intersegment transactions, interest income and expense and certain other charges. Certain other charges may include restructuring and other business transformation
charges that have been undertaken to align and reposition the Company to the current reporting structure, acquisition related costs (including transaction costs and certain integration costs), and share-based compensation charges.
Since certain administrative costs and other operating expenses have not been allocated to business segments, the results in the below table are not necessarily a measure computed in accordance with generally accepted accounting principles and may not be comparable to other companies.
The tables below provide segment information for the periods presented and a reconciliation to total consolidated information:
Year Ended September 30,
202220212020
Total sales
Integrated Solutions and Services$1,222,165 $980,852 $954,542 
Applied Product Technologies653,245 588,080 559,635 
Total sales
$1,875,410 $1,568,932 $1,514,177 
Intersegment sales
Integrated Solutions and Services$37,688 $20,966 $10,360 
Applied Product Technologies100,646 83,537 74,361 
Total intersegment sales
$138,334 $104,503 $84,721 
Sales to external customers
Integrated Solutions and Services$1,184,477 $959,886 $944,182 
Applied Product Technologies552,599 504,543 485,274 
Total sales
$1,737,076 $1,464,429 $1,429,456 
Income from operations
Integrated Solutions and Services$165,562 $147,251 $145,655 
Applied Product Technologies103,087 82,891 134,258 
Corporate(164,656)(130,825)(111,465)
Total income from operations$103,993 $99,317 $168,448 
Interest expense
(34,680)(37,575)(46,682)
Income before income taxes$69,313 $61,742 $121,766 
Income tax benefit (expense)3,030 (10,080)(7,371)
Net income$72,343 $51,662 $114,395 
Depreciation and amortization
Integrated Solutions and Services$83,866 $70,585 $67,489 
Applied Product Technologies13,918 14,423 14,226 
Corporate
29,786 28,656 25,553 
Total depreciation and amortization$127,570 $113,664 $107,268 
Capital expenditures
Integrated Solutions and Services$66,897 $60,407 $75,551 
Applied Product Technologies6,704 6,955 6,237 
Corporate
8,444 7,931 6,668 
Total Capital expenditures
$82,045 $75,293 $88,456 
September 30, 2022September 30, 2021
Assets
Integrated Solutions and Services$1,123,166 $887,265 
Applied Product Technologies653,244 656,362
Corporate
414,453 325,264
Total assets
$2,190,863 $1,868,891 
Goodwill
Integrated Solutions and Services$306,935 $233,830 
Applied Product Technologies166,637 173,546
Total goodwill
$473,572 $407,376